Yingli Green Energy (Yingli Solar) has connected its 50 MW PV power plant, located in Hebei Province, China, to the utility grid. It is expected to produce approximately 54 million kWh of solar power per year and is expected to generate annual revenue of RMB 54 million (approx. US$8.7 million) from national FiT schemes for the next 20 years.
The project has obtained a 10-year, RMB 300 million (US$48 million) financing facility from CGN International Finance Leasing, a wholly-owned subsidiary of China General Nuclear Power Group (CGN). Yingli is also negotiating with a third party for the transfer of the project, which is expected to be completed in the second half of 2015.
"With this 50 MW project, Yingli has now successfully connected approximately 180 MW of projects to the utility grid. We plan to accelerate our downstream activities moving forward to both expand and diversify our revenue sources," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
